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Dec 10, 2012
12/12
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CNBC
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bernard madoff?" and they all said, "no. we don't think he's for real." >> kroft: could you find anybody? >> i found no one that ever traded with mr. madoff, and i traded with the largest equity derivative service in the world. >> kroft: and that's because madoff's investment fund never actually made any trades, at least going back to 1993 and probably further, a fact confirmed at a meeting of madoff investors by the trustee charged with liquidating his assets. no one knew the depth of the fraud, but a lot of people had questions. who else figured this out besides you? >> i would say that hundreds of people suspected something was amiss with the madoff operation. if you look at who the victims were not, you'll notice that the major firms on wall street had no money with mr. madoff. >> kroft: i mean, you write-- this is the letter. i'm quoting from the letter to the securities and exchange commission, red flag number 20: "madoff is suspected of being a fraud by some of the world's largest, most sophisticated financial service
bernard madoff?" and they all said, "no. we don't think he's for real." >> kroft: could you find anybody? >> i found no one that ever traded with mr. madoff, and i traded with the largest equity derivative service in the world. >> kroft: and that's because madoff's investment fund never actually made any trades, at least going back to 1993 and probably further, a fact confirmed at a meeting of madoff investors by the trustee charged with liquidating his assets....
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Dec 12, 2012
12/12
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. >> bernard l. madoff securities employed over 100 people, but it seemed like a family business. his brother peter and several cousins worked there. mark and andrew worked on the 19th floor of new york's lipstick building, where they legitimately traded securities for the firm and for outside clients. the investment advisory business--the ponzi scheme-- was housed two floors below, where their father never made any trades at all. he was simply creating phony paper statements that showed steady profits for his clients, his victims. access to the 17th floor was highly restricted. you must have been curious about why the 17th floor was such a secret place. when you or mark asked him about his end of the business, what did he say? >> it was always very similar responses. "you guys have your business to worry about, and let me worry about my business," and the conversation would end there. >> but people say, "look, there's no way these kids could not have at the very least suspected something was going on." >> well, keep in mind these were completely separate businesses. we were execu
. >> bernard l. madoff securities employed over 100 people, but it seemed like a family business. his brother peter and several cousins worked there. mark and andrew worked on the 19th floor of new york's lipstick building, where they legitimately traded securities for the firm and for outside clients. the investment advisory business--the ponzi scheme-- was housed two floors below, where their father never made any trades at all. he was simply creating phony paper statements that showed...
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Dec 21, 2012
12/12
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KGO
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bernard madoff's younger brother, peter, has been sentenced to ten years. he pled guilty in june to conspiracy and falsifying the records of an investment adviser. the younger plaido eer madoff s didn't know about the fraud until his brother told him. a new judge in new york said she had a hard time believing that. >>> and call this an indication of the reduced influence of the 220-year-old new york stock exchange. it's being bought by a company that's just 12 years old. no major changes are expected after atlanta based intercontinental exchange completes its $8 billion purchase. that should happen sometime next year. >> wow. >> $8 billion. >> to purchase the new york stock exchange. that's fascinating. what that could potentially mean should be interesting. but we'll see how it plays out, as always. >>> facebook will soon be racking up more revenue $1 at a time. the social network is testing out a new service on a limited number of people for $1, and will guarantee delivery of a message into the main inbox of someone who they are not friends with. currentl
bernard madoff's younger brother, peter, has been sentenced to ten years. he pled guilty in june to conspiracy and falsifying the records of an investment adviser. the younger plaido eer madoff s didn't know about the fraud until his brother told him. a new judge in new york said she had a hard time believing that. >>> and call this an indication of the reduced influence of the 220-year-old new york stock exchange. it's being bought by a company that's just 12 years old. no major...
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Dec 20, 2012
12/12
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CNNW
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. >>> and this news just coming in to cnn, the brother of bernard madoff is sentenced to ten years in prison for helping cover up the most notorious ponzi scheme in history. peter madoff pleaded guilty to charges of conspiracy and falsifying investment records. he says he is, quote, deeply ashamed. bernard madoff is currently serving a 150-year sentence in a north carolina federal prison. >>> and thousands of people have no power in the wake of strong storms that tore through parts of mobile, alabama, in the wee hours this morning, officials have no reports of serious injuries from the storm, thankfully, but it was strong enough to peel roofs from buildings, topple trucks and trees and flip cars at a mercedes dealership. look at those pictures. >>> and the national hockey league says, unfortunately, it's canceling its regular season schedule through mid january. nhl officials say cancellation of more than half of the 2012-2013 season is necessary because there is still no contract in place between the league and the players union. in all, 625 games almost 51% of the season will have g
. >>> and this news just coming in to cnn, the brother of bernard madoff is sentenced to ten years in prison for helping cover up the most notorious ponzi scheme in history. peter madoff pleaded guilty to charges of conspiracy and falsifying investment records. he says he is, quote, deeply ashamed. bernard madoff is currently serving a 150-year sentence in a north carolina federal prison. >>> and thousands of people have no power in the wake of strong storms that tore through...
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Dec 21, 2012
12/12
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KPIX
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. >>> bernard madoff's brother has been sentenced to ten years in prison. peter madoff had been helping his brother run a ponzi scheme that swindled investors out of billions of dollars. peter madoff pleaded guilty to falsifying documents and lying to securities regulators. at thursday's sentencing he said he's deeply ashamed. >>> "usa today" reporting instagram is backtracking from a new privacy policy as we reported there was a huge backlash when the website suggested it would use customer photos in ads. instagram says it has no intention of selling photos for ads and it never did. >>> the "l.a. times" says facebook is testing a new user fee to allow customers to send messages to the regular inboxes of people who are not their friends. right now the messages go to a box for other which is also known as spam. >>> queen elizabeth's christmas speech will be broadcast in 3-d for the first time. spokeswoman says they want to do something big and special in the jubilee year. the queen calls the 3-d message >>> a strong storm now sliding into the bay area. we ar
. >>> bernard madoff's brother has been sentenced to ten years in prison. peter madoff had been helping his brother run a ponzi scheme that swindled investors out of billions of dollars. peter madoff pleaded guilty to falsifying documents and lying to securities regulators. at thursday's sentencing he said he's deeply ashamed. >>> "usa today" reporting instagram is backtracking from a new privacy policy as we reported there was a huge backlash when the website...